Municipal Bond Market Support Act of 2015

Urging reconfiguration of Schedule H to include on the forms first page the value of hospitals contribution related to housing services as community benefit. Supporting preservation of tax exempt status for hospitals. Opposing requirement that hospitals provide to patients a detailed list of all the individual providers that are covered by the individual hospitals financial assistance policy to satisfy the obligation under 501(r) of the Code. Urging issuance of more detailed instructions for completing schedule H; Support H.R.2229 - Municipal Bond Market Support Act of 2015, Amends Internal Revenue Code provisions relating to the small issuer exemption from interest expense allocation rules for financial institutions to: (1) permanently increase from $10 million to $30 million the annual limit on the amount of tax-exempt obligations that a small issuer may issue, and (2) allow an inflation adjustment to such increased limit amount after 2015; Support S.3257 - A bill to amend the Internal Revenue Code of 1986 to permanently modify the limitations on the deduction of interest by financial institutions which hold tax-exempt bonds, and for other purposes.

Client expense: $4,050,000 · Firm income: Not reported

Government targets: Centers For Disease Control & Prevention (CDC), Centers For Medicare and Medicaid Services (CMS), Federal Communications Commission (FCC), Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Internal Revenue Service (IRS), Justice, Dept of (DOJ), Office of Management & Budget (OMB), SENATE, Veterans Affairs, Dept of (VA), White House Office

H.R. 915 (Voices for Veterans Act); H.R. 1295 (Trade Preferences Extension Act of 2015); H.R. 2229 (Municipal Bond Market Support Act of 2015); S. 161 (Paying a Fair Share Act of 2015); S. 174 (Stop Tax Haven Abuse Act); S. 922 (Corporate Tax Dodging Prevention Act); S. 1186 (Move America Act of 2015); S. 2252 (Fair Playing Field Act of 2015); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Legislation Proposals; Tax issues related to standardization of credit default swaps and derivatives transactions; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Tax Reform Act of 2014; Issues related to proposals to impose an asset tax on financial institutions; Issues related to proposals to limit the deductability or risk fee of FDIC assessments; Income tax withholding with respect to I.R.C. 305(c) deemed dividends; Tax Reform Legislation; Financial Transaction Tax (FTT). Issues related to extraterritorial application in the U.S. of foreign FTTs and FTT proposals; Issues related to taxation of negative interest payments; Issues related to the taxation of Total Loss Absorbency Capacity (TLAC) securities; Issues related to taxation of securities transactions, including market to market for derivatives; Draft legislation to prevent identity theft and tax refund fraud (Form 1099 accelerated filing dates); Achieving a Better Life Experience (ABLE) Act implementation; IRS regulations on dividend equivalents under Section 871(m); U.S. Treasury participation in Organisation for Economic Co-operation and Development discussions regarding deductibility of interest for financial firms; Tax treatment of municipal bond interest; Treasury regulations under Internal Revenue Code Section 385; Modernization of Derivatives Tax Act (MODA); Chapters 3 and 4 of Subtitle A of the Internal Revenue Code (responsibilities of financial institutions).

H.R. 915 (Voices for Veterans Act); H.R. 1295 (Trade Preferences Extension Act of 2015); H.R. 2229 (Municipal Bond Market Support Act of 2015); H.R. 2483 (Independent Contractor Tax Fairness and Simplification Act of 2015); S. 161 (Paying a Fair Share Act of 2015); S. 174 (Stop Tax Haven Abuse Act); S. 351 (Mortgage Debt Tax Relief Act); S. 922 (Corporate Tax Dodging Prevention Act); S. 1186 (Move America Act of 2015); S. 2252 (Fair Playing Field Act of 2015); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Legislation Proposals; Tax issues related to standardization of credit default swaps and derivatives transactions; Extension of Active Financing Rules; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Tax Reform Act of 2014; Issues related to proposals to impose an asset tax on financial institutions; Issues related to proposals to limit the deductability or risk fee of FDIC assessments; Income tax withholding with respect to I.R.C. 305(c) deemed dividends; Tax Reform Legislation; Financial Transaction Tax (FTT). Issues related to extraterritorial application in the U.S. of foreign FTTs and FTT proposals; Issues related to taxation of negative interest payments; Issues related to the taxation of Total Loss Absorbency Capacity (TLAC) securities; Issues related to taxation of securities transactions, including market to market for derivatives; Draft legislation to prevent identity theft and tax refund fraud (Form 1099 accelerated filing dates); Achieving a Better Life Experience (ABLE) Act implementation; IRS regulations on dividend equivalents under Section 871(m); U.S. Treasury participation in Organisation for Economic Co-operation and Development discussions regarding deductibility of interest for financial firms; Tax treatment of municipal bond interest.

NMTC Program and Legislation: Senate bill S. 591 and House of Representatives bill H.R. 855, The New Markets Tax Credit Extension Act of 2015 LIHTC Program and Legislation: Senate bill S. 1193 and House of Representatives Bill H.R. 1142, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program Department of Housing and Urban Development and Appropriations for the HUD Section 108 Loan Guarantee Program Small Business Administration 7(a) Loan Guarantee Program and Legislation: S.1001-The Small Business Lending Reauthorization Act of 2015 Municipal Bonds activity in NDC client communities and legislation including H.R.2229 - Municipal Bond Market Support Act of 2015

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 915 (Voices for Veterans Act); H.R. 961 (To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income); H.R. 1002 (Mortgage Forgiveness Tax Relief Act of 2015); H.R. 1295 (Trade Preferences Extension Act of 2015); H.R. 1430 (Permanent CFC Look-Through Act of 2015); H.R. 2029 (Consolidated Appropriations Act, 2016); H.R. 2128 (Real Estate Investment and Jobs Act of 2015); H.R. 2229 (Municipal Bond Market Support Act of 2015); H.R. 2483 (Independent Contractor Tax Fairness and Simplification Act of 2015); H.R. 3832 (Stolen Identify Refund Fraud Prevention Act of 2015); H.R. 3856 (Information Reporting Simplification Act of 2015); S. 161 (Paying a Fair Share Act of 2015); S. 174 (Stop Tax Haven Abuse Act); S. 351 (Mortgage Debt Tax Relief Act); S. 915 (Real Estate Investment and Jobs Act of 2015); S. 922 (Corporate Tax Dodging Prevention Act); S. 1186 (Move America Act of 2015); S.2252 (Fair Playing Field Act of 2015); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Legislation Proposals; Tax issues related to standardization of credit default swaps and derivatives transactions; Extension of Active Financing Rules; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Tax Reform Act of 2014; Issues related to proposals to impose an asset tax on financial institutions; Issues related to proposals to limit the deductability or risk fee of FDIC assessments; Tax characteristics of nominal negative interest payments; Income tax withholding with respect to I.R.C. 305(c) deemed dividends; Tax Reform Legislation; Financial Transaction Tax (FTT). Issues related to extraterritorial application in the U.S. of foreign FTTs and FTT proposals; Issues related to taxation of negative interest payments; Issues related to the taxation of Total Loss Absorbency Capacity (TLAC) securities; Issues related to taxation of securities transactions, including market to market for derivatives; Draft legislation to prevent identity theft and tax refund fraud (Form 1099 accelerated filing dates); IRS notice 2015-47 (Listing Notice - Basket Option Contracts); IRS notice 2015-48 (Transaction of Interest - Basket Contracts); Achieving a Better Life Experience (ABLE) Act implementation; Protecting Americans from Tax Hikes (PATH) Act; IRS regulations on dividend equivalents under Section 871(m).

H.R. 915 (Voices for Veterans Act); H.R. 961 (To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income); H.R. 1295 (Trade Preferences Extension Act of 2015); H.R. 1430 (Permanent CFC Look-Through Act of 2015); H.R. 2229 (Municipal Bond Market Support Act of 2015); H.R. 2483 (Independent Contractor Tax Fairness and Simplification Act of 2015); S. 161 (Paying a Fair Share Act of 2015); S. 174 (Stop Tax Haven Abuse Act); S. 922 (Corporate Tax Dodging Prevention Act); S. 1186 (Move America Act of 2015); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Legislation Proposals; Tax issues related to standardization of credit default swaps and derivatives transactions; Extension of Active Financing Rules; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Tax Reform Act of 2014; Issues related to proposals to impose an asset tax on financial institutions; Issues related to proposals to limit the deductability or risk fee of FDIC assessments; Tax characteristics of nominal negative interest payments; Income tax withholding with respect to I.R.C. 305(c) deemed dividends; Tax Reform Legislation; Financial Transaction Tax (FTT). Issues related to extraterritorial application in the U.S. of foreign FTTs and FTT proposals; Issues related to taxation of negative interest payments; Issues related to the taxation of Total Loss Absorbency Capacity (TLAC) securities; Issues related to taxation of securities transactions, including market to market for derivatives; Draft legislation to prevent identity theft and tax refund fraud (Form 1099 accelerated filing dates); IRS notice 2015-47 (Listing Notice - Basket Option Contracts); IRS notice 2015-48 (Transaction of Interest - Basket Contracts).

H.R. 1295 Trade Preferences Extension Act of 2015 - Financial Account and Interest Reporting Mandates H.R. 1389 American Jobs and Community Revitalization Act H.R. 2229 Municipal Bond Market Support Act H.R. 2789 Capital Access for Small Business Banks Act S. 1946 Tax Relief Extension Act Bank Qualified Bonds Business Income Taxation Business Interest Deduction Credit Union Tax Exemption Farm Credit System Tax Exemption S Corp Reforms Tax Reform

Client expense: $900,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), Consumer Financial Protection Bureau (CFPB), Defense, Dept of (DOD), Farm Credit Administration, Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, HOUSE OF REPRESENTATIVES, Natl Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Small Business Administration (SBA), Treasury, Dept of, White House Office

NMTC Program and Legislation: Senate bill S. 591 and House of Representatives bill H.R. 855, The New Markets Tax Credit Extension Act of 2015 LIHTC Program and Legislation: Senate bill S. 1193 and House of Representatives Bill H.R. 1142, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program Department of Housing and Urban Development and Appropriations for the HUD Section 108 Loan Guarantee Program Small Business Administration 7(a) Loan Guarantee Program and Legislation: S.1001-The Small Business Lending Reauthorization Act of 2015 Municipal Bonds activity in NDC client communities and legislation including H.R.2229 - Municipal Bond Market Support Act of 2015

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 915 (Voices for Veterans Act); H.R. 961 (To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income); H.R. 1295 (Trade Preferences Extension Act of 2015); H.R. 1430 (Permanent CFC Look-Through Act of 2015); H.R. 2229 (Municipal Bond Market Support Act of 2015); H.R. 2483 (Independent Contractor Tax Fairness and Simplification Act of 2015); S. 161 (Paying a Fair Share Act of 2015); S. 174 (Stop Tax Haven Abuse Act); S. 922 (Corporate Tax Dodging Prevention Act); S.1186 (Move America Act of 2015); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Legislation Proposals; Tax issues related to standardization of credit default swaps and derivatives transactions; Extension of Active Financing Rules; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Municipal Advisor Regulation; Tax Reform Act of 2014; Issues related to proposals to impose an asset tax on financial institutions; Issues related to proposals to limit the deductability of FDIC assessments; Tax characteristics of nominal negative interest payments; Income tax withholding with respect to I.R.C. 305(c) deemed dividends; Tax Reform Legislation; Financial Transaction Tax (FTT). Issues related to extraterritorial application in the U.S. of foreign FTTs and FTT proposals; Issues related to taxation of negative interest payments; Issues related to the taxation of Total Loss Absorbency Capacity (TLAC) securities; Issues related to taxation of securities transactions, including market to market for derivatives.

H.R. 1295 Trade Preferences Extension Act of 2015 - Financial Account and Interest Reporting Mandates H.R. 1389 American Jobs and Community Revitalization Act H.R. 2229 Municipal Bond Market Support Act H.R. 2789 Capital Access for Small Business Banks Act Bank Qualified Bonds Business Income Taxation Business Interest Deduction Credit Union Tax Exemption Farm Credit System Tax Exemption S Corp Reforms Tax Reform

Client expense: $1,830,000 · Firm income: Not reported